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Property profile & analytics
OFF-MARKET
Estimated value
$11,150,000
Distribution centers
9860 40th S Ave Seattle, WA 98118-5603
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US90-1757082
Property profile
Verified
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area
48,100 SF
Lot
1.63 ac (71,088 SF)
Zoning code
IG2 U/65
APN
032304-9025
UPID
US90-1757082
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.30M
CAP Approach
CAP
$10.87M
Comparable Approach
Comparable
$12.90M
Blend (final)
Blend
$11.15M
Owner & transaction history
B9 Ss 40th Ave Owner LLC · 5 yrs held
B9 Ss 40th Ave Owner LLC
since 2020
Last sale
$11.4M
7 recorded transactions
Zoning & alternative use
IG2 U/65 · Seattle, WA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Municipal Code
Top alternative use upside
Apartment house (5+ units)
$17.1M
+20.1%
Office building
$17.0M
+19.6%
Medical building
$16.5M
+16.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Seattle submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seattle submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$11,025,000
ML approach
$9,300,000
CAP Approach
CAP Return
Estimation
6%
$11,775,000
6.5%
$10,870,000
7%
$10,095,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$14,210,000
Current use
APARTMENT HOUSE (5+ UNITS)
$17,060,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$17,000,000
Change: +20% · Conversion: Difficult
MEDICAL BUILDING
$16,540,000
Change: +16% · Conversion: Difficult
COMMERCIAL (GENERAL)
$14,905,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$11.15M
Range $10.04M – $12.27M · ±10% · vs last sale $11.35M (Sep 21 2020)
Last sale anchor
$11.35M
Sep 21 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$232 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Tax billed
$85,441
Tax year 2022
Assessed value
$8,873,100
Assessed 2022
Previous assessed
$8,873,100
+0.0% YoY
Effective rate
0.96%
On assessed value
Assessed land
$2,843,500
Assessed improvement
$6,029,600
Land market value
$2,843,500
Improvement market value
$6,029,600
Total market value
$8,873,100
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Distribution centers
Use group
DISTRIBUTION WAREHOUSE
Status
Off-Market
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Total area
48,100 SF
Lot
1.63 ac (71,088 SF)
Zoning code
IG2 U/65
APN
032304-9025
UPID
US90-1757082
Jurisdiction
KING
Metro division
SEATTLE-BELLEVUE-EVERETT, WA METROPOLITAN DIVISION
Zoning & alternative use
IG2 U/65 · Seattle, WAZoning IG2 U/65 · permitted uses
IG2 U/65 · Seattle, WA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Municipal Code
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$14.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$17.1M
OFFICE BUILDING
Est. value
$17.0M
MEDICAL BUILDING
Est. value
$16.5M
COMMERCIAL (GENERAL)
Est. value
$14.9M
WAREHOUSE, STORAGE Current
APARTMENT HOUSE (5+ UNITS)
OFFICE BUILDING
MEDICAL BUILDING
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1967
Construction
MASONRY/CONCRETE MASONRY UNITS (CMUS)
Heating
SPACE
Stories
1
Lot
1.63 ac
Current owner
From public records · entity-resolved
B9 Ss 40th Ave Owner LLC
Entity
Mailing address
PO BOX A3879, CHICAGO, IL 60690-3879
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 10, 2025
—
B9 Ss 40th Ave Owner LLC
—
Deed
related
—
Mar 16, 2022
—
B9 Ss 40th Ave Owner LLC
—
Deed
related
$90,000,000 · Societe Generale Financial Corp
Sep 21, 2020
$11,350,000
B9 Ss 40th Ave Owner LLC
Marush LLC
Grant Deed
—
Mar 6, 2018
—
Marush LLC
—
Deed
related
$1,400,000 · Boeing Emps Cu
Oct 31, 2016
—
Marush LLC
—
Deed
related
$1,886,000 · Boeing Emps Cu
Sep 28, 2007
—
Marush LLC
Charles Marush LLC
Quit Claim Deed
—
Dec 16, 2005
—
Marush LLC
Reverse Now III LLC
Grant Deed
—
Jul 25, 2005
$3,475,000
Reverse Now III LLC
Farrell,charles E & Carol J
Warranty Deed
$2,780,000 · Bank Of America
—
—
Marush LLC
—
Deed Of Trust
related
$1,886,000 · Boeing Emps Cu
—
—
Marush LLC
—
Deed Of Trust
related
$1,400,000 · Boeing Emps Cu
—
—
Charles E Farrell
—
Deed Of Trust
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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